Price is testing major resistance at 1.2373 (Fibonacci retracement, Fibonacci extension, descending resistance, swing high resistance), and a strong reaction could occur at this level to push the prices down to support at 1.2295 (Fibonacci retracement, horizontal overlap support).
Stochastic (55,5,3) is seeing major resistance at 97% where a corresponding reaction could occur.
Sell below 1.2373. Stop loss at 1.2341. Take profit at 1.2295.
The material has been provided by InstaForex Company – www.instaforex.com
Price is testing major resistance at 1.2373 (Fibonacci retracement, Fibonacci extension, descending resistance, swing high resistance), and a strong reaction could occur at this level to push the prices down to support at 1.2295 (Fibonacci retracement, horizontal overlap support).
Stochastic (55,5,3) is seeing major resistance at 97% where a corresponding reaction could occur.
Sell below 1.2373. Stop loss at 1.2341. Take profit at 1.2295.
The material has been provided by InstaForex Company – www.instaforex.com
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